The Business Lending Center
The Business Lending Center is the
trade name for SCEDD Development Company, a subsidiary of the Southern
Colorado Economic Development District. The Business Lending Center is a
non-profit organization which is licensed and regulated by the Small
Business Administration (SBA) as a “Certified Development Company” or
“CDC”. As a CDC, we are
authorized to package, close, and service 504 loans throughout Colorado. The Business Lending Center works
hand-in-hand with the borrower and the banker to develop a financing
package that works best for your small business.
SBA 7(a) Loans
loan guarantees are the most widely used loan program offered by SBA. The
program name comes from section 7(a) of the Small Business Act, which
authorizes SBA to provide business loans to American small businesses.
The business applies to a lender
for financing. The lender decides if they will make the loan
internally or if the application has some weaknesses which, in their
opinion, will require a SBA guaranty if the loan is to be made. The
guaranty which SBA provides is only available to the lender. It
assures the lender that in the event the borrower does not repay their
obligation and a payment default occurs, the Government will reimburse the
lender for its loss, up to the percentage of SBA's guaranty. Under this
program, the borrower remains obligated for the full amount due.
Eligible Use of Funds
For additional information and guidelines for the SBA 7(a) loan program, please contact Kelly Taylor.
The complete 7(a) loan application packet can be downloaded here.
For information on the SBA 504 loan program click here.
This website is currently under construction. While some information is provided in the links, additional information can be obtained by contacting our office.
Southern Colorado Economic Development District (SCEDD)